The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-11-11
THE GAS TRUST CANVASS
The Subscriptions to Stock Now Re-
ported Amount to Over 100000.
Meeting of Real Estate and Insurance Men
The Indianapolis Company Likely to Sup
ply Gas at Present Ordinance Rates.

| as to their subscriptions the aggregate is large
| enough, they think, to encourage them with the
| hope that the full amount will be raised by Sat
urday night At the same time they do not try
to conceal the belief that to accomplish this win
| require much harder work than has been done.
| 1t was said by some interested in the trust
| that a larger amount of subscriptions
| would have been obtained had the
| work of canvassing been intrusted to fifteen or
| twenty representative business men who under
| stood just where to 60 and how much to ask
| from individuals and firms. Putting the books
| out Unfortunately some of which went into
| the hands of men who began the work with the
best intentions. has left part of the field inef-
| GENTLY gone Colonel Lilly said,
last night, that in the hurry and
rush that attended the opening of
the movement this could not be helped. Crowds
in asking for books and promising to can
vass thoroughly their particular districts and
localities where they considered they could OBJ
tain the best results. No time could be taken in
discriminating to the fitness of everybody for
soliciting. The same thing attended the ward
meetings, where everything done quickly
and the volunteers were many. He believed,
though. that most of the wards we'll or
ganzed. and that from them the best returns
could be expected. In few improper organize
tion existed, and it is in those, he thought,
where the subscriptions would fall off.
gentleman who is enthusiastic advocate
of the trust remarked yesterday 81 can take
hold ofsthe subscriptions just where they
and raise the balance within week few
days longer. / would know whom to approach
for large subscriptions. and, il he could sub
scribe for more than 500 or 81, 600, would not
have it. l would insist upon taking shares up
to the amount which 1 know he could meet
That is the trouble in general canvassing.
man will approach another. aud. if he is told
that 500 must answ whore 81, 900 could
be subscribed just as WELL he
accepts it rather than have nothing However
be lieve that the full will be raised, for
the interest in this movement has permeated all
classes of people; yet must say that the mat
ter is getting down to strict line of
bushes where it will take hard pulling to get
the last $4,000 or re- The books having
the largest subscriptions have been reported"
There was another ge ntleman who took
book, and when asked how many subscriptions
he had obtained said: Only few. My business
has been such that could not leaye my Office
and the subscriptions received have been from
those who came to see me on other matters" But
there are others VINO have worked every hour III
the day, at the sacrifice of their own interests,
and if the movement fails they have the
credit of doing all that was possible for them to
do Perhaps John P. Frenzel and Frederick
Fahnley have turned in the largest amounts.
A A McKain, though. up to 5es:er-
600. NJ. S. Huey, too, has been
indefatigable. and c. F. Thornton has raised
$4,000 book represents either SIS or $50
shares. and as 53s were out yesterday, 146 hav
ing been issued since Wednesday. there is
styong probability that several OF them will
SHOW the $4,000 to be in sight by Saturday
evening. Up to last evening reports had been
received on 17s books, agcreeatine 1928
shares. 1898 1t will, be
reported e n Apparently subscribers for them
ought not to be hard to obtain, but the directors
say that to get them in time for Saturday nights
meeting the canyassers must do their best. 1t |
is estimated by them that the subscriptions |
from 600 persons. which gives average of a |
fraction over three shares to each person.
The real estate, rental and insurance men had |
a meeting at the Board of Trade rooms, last |
night, TO consider what they should do in pro-
sided. and Myron d. King acted secretary. |
At the opening of the PROCEEDINGS j. NJ. Riden- |
our reviewed the local gas agitation from It's be- |
ginning, and spoke of the organization of the |
trust promising a of enterprise and |
progress for the city. He had canvassed the |
district allotted to him in the Second ward, and |
found but four persons who refused to sub |
scribe.
Judge Lamb in his short speech referred to
the benefits that would accrue in real estate
values. When it was discovered last spring |
that Indianapolis lay to vast gas terri
tory, activity in the real estate market began.
1t partook somewhat of boom and he person
ally knew of the effects of this discovery on the
market by his dsposing of nearly all the
real estate he held as receiver. He sold
i
the two years before that time he not only
waited but sought for offers. IF the trust
movement" he continued, should fail, right
here the people of Indianapolis would owe its
promoters debt of gratitude. for 1t has saved
them from the possibility of paying so cents
more for their natural gas. The trust could
quit and say it had brought the
Indianapolis company to considering about
coming into the city under the ordinance rates.
l believe that after the 1st of January we
count on the company accepting the ordinance
as it is. IL it had not been for the movement it
would have held out for 50-cent higher rate.
and to make its acceptance OF the ordinance
doubly the trust should be made a success
All of the $500. 900 must be raised by Saturday
night"
A +. Potts said that the company was having
prepared a list of all the resident realestate |
owners holding property of 81 900 or more. This
committee of real estate men who could. from
the company's books. check off those who have
subscribed. The others who had not could be
and ansi'su urged to take Shares. It was
decided to adopt this plan for the present and
the gentlemen of the commIttee to do this work
are Captain De Souchet, j. Vi. RIdenour, Thorn
Fl. Spann, Benjamin f. Goodhart and Charles
r. Reynolds They are also to report more
definite plan of operations. 1t was also agreed
by the several agents present that they would
communicate the purposes of the trust company
to nonresident property holders and solicit
them to subscribe.
Il was talked about yesterday, that tho City
Council would be asked subscribe 49, 900 for
the city. but this will hardly be done, as the law
relating the limit of Indebtedness is OBJ
stacle. eff it was not said Councilman.
awe could not do it, for in the present state OF
the city's finances l doubt if we could borrow the
money except at a high rate of interest. AS
for ready money it is about all we can do to get
along with present revenues" But in order
to meet the legal obstacle it was mentioned by
some persons that the Trust could raise the
$500, 000 lease gas lands lay pipes. issue certif
Gates loan, and then when the Legislature
met get enabling act for the city to aid the
Enterprise. In this condition the possibility of
prevailing the Governor to call a special ses
sion for the purpose mentioned was canvassed-
In regard to what the indianapolis company
in tends to do after it reaches the city with its
pipe line. there have been many surmises and
rumors A director of that corporation
asked last night, about them and he replied,
.'Of the thousand and rumors relative to
purposes thousand of them are false. In the